NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : BONUS ISSUES MALAYSIA STEEL WORKS (KL) BHD (“MASTEEL” OR THE “COMPANY”) PROPOSED BONUS ISSUE OF UP TO 106,810,281 NEW ORDINARY SHARES IN MASTEEL (“MASTEEL SHARE(S)” OR “SHARE(S)”) (“BONUS SHARES”) ON THE BASIS OF 1 BONUS SHARE FOR EVERY 3 EXISTING MASTEEL SHARES HELD ON AN ENTITLEMENT DATE TO BE DETERMINED LATER (“PROPOSED BONUS ISSUE”)

MALAYSIA STEEL WORKS (KL) BHD (“MASTEEL” OR THE “COMPANY”) PROPOSED BONUS ISSUE OF UP TO 106,810,281 NEW ORDINARY SHARES IN MASTEEL (“MASTEEL SHARE(S)” OR “SHARE(S)”) (“BONUS SHARES”) ON THE BASIS OF 1 BONUS SHARE FOR EVERY 3 EXISTING MASTEEL SHARES HELD ON AN ENTITLEMENT DATE TO BE DETERMINED LATER (“PROPOSED BONUS ISSUE”)

On behalf of the Board of Directors of Masteel, UOB Kay Hian Securities (M) Sdn Bhd wishes to announce that the Company proposes to undertake a proposed bonus issue of up to 106,810,281 Bonus Shares on the basis of 1 Bonus Share for every 3 existing Masteel Shares held on an entitlement date to be determined and announced later.

Further details on the Proposed Bonus Issue are set out in the attachment below.